Common use of Nature of OTC Precious Metals Transactions Clause in Contracts

Nature of OTC Precious Metals Transactions. Transactions in OTC Precious Metals are transactions with IBIE as your counterparty, and are not traded on a regulated exchange and are not cleared or settled on a central clearing house. All OTC Precious Metals transactions with IBIE are on an unallocated basis, meaning IBIE will not "allocate" to you nor segregate on your behalf specific lots of Precious Metal. Rather, IBIE has custodial arrangement(s) with third parties ("Precious Metals Custodians") for storage of unallocated Precious Metals on a net basis for IBIE. IBIE may use these arrangements or other arrangements (such as derivatives contracts) obligating third parties to deliver Precious Metals to IBIE. Precious Metals held in an unallocated account are not segregated from IBIE's or its Precious Metals Custodian's assets, and Precious Metals credited to an unallocated account represent only the dealer's obligation to deliver Precious Metals and do not constitute ownership of any specific lots of Precious Metals.

Nature of OTC Precious Metals Transactions. Transactions in OTC precious metals (“Precious Metals Metals”) are transactions with IBIE IBUK as your counterparty, and are not traded on a regulated exchange and are not cleared or settled on a central clearing house. All OTC Precious Metals transactions with IBIE IBUK are on an unallocated basis, meaning IBIE IBUK will not "allocate" to you nor segregate on your behalf specific lots of Precious Metal. Rather, IBIE IBUK has custodial arrangement(s) with third parties ("Precious Metals Custodians") for storage of unallocated Precious Metals on a net basis for IBIEIBUK. IBIE XXXX may use these arrangements or other arrangements (such as derivatives contracts) obligating third parties to deliver Precious Metals to IBIEIBUK. Precious Metals held in an unallocated account are not segregated from IBIEIBUK's or its Precious Metals Custodian's assets, and Precious Metals credited to an unallocated account represent only the dealer's obligation to deliver Precious Metals and do not constitute ownership of any specific lots of Precious Metals.

Nature of OTC Precious Metals Transactions. Transactions in OTC Precious Metals are transactions with IBIE IBLUX as your counterparty, and are not traded on a regulated exchange and are not cleared or settled on a central clearing house. All OTC Precious Metals transactions with IBIE IBLUX are on an unallocated basis, meaning IBIE IBLUX will not "“allocate" ” to you nor segregate on your behalf specific lots of Precious Metal. Rather, IBIE IBLUX has custodial arrangement(s) with third parties ("“Precious Metals Custodians"”) for storage of unallocated Precious Metals on a net basis for IBIEIBLUX. IBIE IBLUX may use these arrangements or other arrangements (such as derivatives contracts) obligating third parties to deliver Precious Metals to IBIEIBLUX. Precious Metals held in an unallocated account are not segregated from IBIE's IBLUX’s or its Precious Metals Custodian's ’s assets, and Precious Metals credited to an unallocated account represent only the dealer's ’s obligation to deliver Precious Metals and do not constitute ownership of any specific lots of Precious Metals.